Realtor | Corey Dwan

Cell 970.596.3219
Corey.Dwan@SothebysRealty.com

March 2011 - Market Report

Hi Everyone,

So far this winter in Crested Butte we have received more than 25 feet of snow and with 9 inches new accumulation for this last week we have an 83" base. March has come on strong with spring skiing conditions with temperatures in the 40s all this coming week. The sun is out and the crowds are few making it one of the best times of the year to visit. For current weather, snow and ski trail reports please visit Crested Butte Weather, Crested Butte Snow Report and Crested Butte Ski Trail Status.

Prior to the conclusion of this winter season I wanted to take a few moments and reflect on the real estate market performance last year and the beginning of this year. For the entire year of 2010 we had 152 single family, condos and town homes sell for a total of $78,497,919. The average price was $516,434 and the median price was $352,500. In 2009 we sold 141 single family, condos and town homes for a grand total of $72,433,657. While surpassing last years total sales we also gained slightly from a 2009 average price of $513,714 and median price of $330,000. For the entire winter season (12-1-09 to 4-4-10) we sold $21,337,219 worth of inventory. Compare that to $28,414,178 of sold and under contract inventory so far this winter season and it is evident savvy buyers are taking advantage of our current low prices and what appears to be the bottom of our market.

Land has continued to be the hardest hit as seen with a recent sale in the Summit neighborhood last month for $137,500 (ski in/ski out) with past sale prices exceeding $800,000 at the height of the market in 2006. So if you want a piece of Crested Butte land, there is no time better than now.

In a continuing effort to provide the best real estate service in the valley I have launched a new IDX real estate search engine on my web site that I believe is the easiest way for all of you to search for that dream mountain home. If you would like me to set up a customized search for you please Contact Corey Dwan anytime. Please
visit my web site for valuable information on the real estate market, community, events and local businesses.

Click here if you would like to receive foreclosure, REO and short sale listings. (Please note Foreclosure Listing Request in the message field)

NAR: Home Prices Stabilize in Most Markets During the 4th Quarter 2010

Home sales rebounded in 49 states during the fourth quarter with 78 markets ? just over half of the available metropolitan areas ? experiencing price gains from a year ago, while most of the rest saw price weakness, according to the latest survey by the National Association of Realtors? (NAR).
? Total state existing-home sales, including single-family and condo, jumped 15.4% to a seasonally adjusted annual rate of 4.80 million in the fourth quarter from 4.16 million in the third quarter
? In the fourth quarter, the median existing single-family home price rose in 78 out of 152 metropolitan statistical areas from the fourth quarter of 2009, including 10 with double-digit increases
?Mortgage interest rates recently hit record lows, median family income has edged up and prices in most areas have been stable following the correction from the housing boom. For people with good credit and long term plans, it?s hard to imagine a better opportunity than what we see today,? said NAR President Ron Phipps.

Remember if you wish to receive up to the minute community, national real estate market and ski town news please join one or all of my social media avenues below and/or subscribe to The Crested Butte Real Estate and Community Newsletter. Thanks for reading today and I hope to see you in Crested Butte soon.
Cheers,
Corey